“Aware of the financing needs of early stage businesses and other small and mediumsized enterprises (the “SMEs”), the Autorité des marchés financiers (the “AMF”) is examining options that can help meet these needs without compromising investor protection.” One of these options being Equity Crowdfunding.In order to facilitate the raising of capital by these businesses, the AMF issued a blanket order on December 20, 2012 exempting certain issuers from some of the requirements in respect of the offering memorandum exemption (the “OM order”). The offering memorandum exemption (the “OM exemption”) could be used as a framework for the potential implementation of an equity crowdfunding regime in Québec.”
The AMF has invited all interested parties to express their views on the OM exemption, the OM order and equity crowdfunding in a public consultation to be held March 20 during which Invest Crowdfund Quebec and other organisations will share their position and explain how it can solve an ever-growing gap for start-ups and SMEs. Since our initial meeting with the AMF in September, the international ecosystem has known significant changes and “success stories” are no longer the exception. This is very exciting for Quebec.
Whom is this consultation intended for? All interested parties, namely:
– members of management of companies seeking financing, particularly early stage businesses and other small and medium-sized enterprises;
– individual and institutional investors;
– dealers, representatives and other registered persons; and
– lawyers, accountants and other professionals offering services to issuers